TLDR
Bit Digital reported $30.5 million in revenue for Q3 2025, up from $22.8 million in the same quarter last year.
The company’s growth was driven by strong performance in its WhiteFiber unit and higher Ethereum staking income.
Bit Digital’s crypto mining revenue dropped to $7.4 million, a decrease from $10.1 million a year earlier.
Cloud services brought in $18.0 million, a significant increase from $12.2 million last year.
Ethereum staking revenue grew to $2.9 million, up from $0.4 million in Q3 2024.
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Bit Digital posted its third-quarter earnings for 2025, showing a revenue of $30.5 million. This marks a growth from $22.8 million in the same quarter last year. The company attributed this increase to growth in its WhiteFiber unit and higher Ethereum staking income.
Revenue Breakdown and Growth in Ethereum
Bit Digital’s revenue from crypto mining dropped to $7.4 million in Q3, down from $10.1 million last year. This decline was due to the increasing difficulty of the Bitcoin network and the company’s decision to reduce its hash rate. Despite the drop in mining revenue, Bit Digital saw impressive growth in its cloud services, which earned $18.0 million, up from $12.2 million in 2024.
The company also launched its colocation services in late 2024, bringing in $1.7 million in the third quarter. Ethereum staking generated $2.9 million, a substantial increase from $0.4 million last year. Bit Digital’s higher staking rewards and stronger ETH prices contributed to this growth.
In Q3, Bit Digital benefited from its investment in WhiteFiber, a company in which it holds a 70.7% stake. By the end of September, Bit Digital owned 27,043,750 shares of WhiteFiber, valued at $734.8 million. The company reported a net income of $146.7 million, up from a net loss of $38.8 million in Q3 2024.
The company’s move to increase its Ethereum holdings has been a key part of its strategy. Bit Digital’s Ethereum stash grew from 30,663 ETH on June 30 to 122,187 ETH by September 30. By October 31, the total increased to 153,547 ETH, valued at $590.5 million. The company also purchased 31,057 ETH in October using proceeds from a $150 million convertible notes sale.
Bitcoin Mining Shrinks as Bit Digital Embraces Ethereum
Bit Digital’s Bitcoin mining operations continued to decline in Q3, with only 64.9 BTC mined, down from 165.4 BTC last year. The company’s active hash rate was 1.9 EH/s, with an efficiency of 22 J/Th. The mining arm posted a 32% gross margin, but Bit Digital expects limited or no capital spending in this segment moving forward.
Bit Digital plans to allocate proceeds from its remaining Bitcoin mining operations to Ethereum investments. The company also stated that its focus remains on building a strong Ethereum treasury. CEO Sam Tabar emphasized the importance of Ethereum and artificial intelligence in Bit Digital’s long-term strategy.
